The Indian market, with its vast young population and fast-rising middle class, is expected to be the next big market for entertainment and recreation globally.
The Indian middle class is currently estimated at about 500 million people and is expected to increase by 310 million over the next 10 years. This growth in the middle class over the next decade is nearly equal to the US or EU population.
India also has a very young and dynamic population, with 66% under 35 (by comparison, 38% of the EU population is under 35). Indian families and young adults are increasingly willing to spend on leisure and entertainment and are seeking high-quality offerings.
Steven Shah, vice president of FORREC, has worked in India for the past 30 years and has seen firsthand the rapidly expanding entertainment market. “The market is changing very quickly, and we are seeing strong demand for entertainment-led design and attractions."
Market growth is occurring at three different scales. Existing attraction operators are expanding, indoor entertainment centers are booming, and new mega-entertainment projects are advancing.
Expansion plans of industry leaders in India
Wonderla Holidays is the largest amusement park operator in India, celebrating 25 years of operation.
According to its FY25 published financial results, it achieved a record 3,05 million attendance across 4 parks, with total income of Rs 48,278 lakh (USD 51,5 million).
Wonderla opened its fifth amusement park in Chennai in 2025, featuring many international world-class rides. The Chennai park is expected to draw 800,000 to 1,000,000 visitors per year in the coming years.
Digital payments have gained popularity in India, and more than half of Wonderla’s park attendees are buying tickets online in advance. Wonderla is actively seeking sites in major cities for new theme parks.
Malpani Group is expanding into a national operator after merging its Wet and Joy parks with the Imagicaaworld complex outside of Mumbai. Imagicaaworld includes a theme park, water park, indoor snow park, theme hotel and small attractions.
Malpani Group expects to double the number of water parks and theme parks in operation from 7 to 14 by 2031. Milpanis’ Imagicaa Entertainment recently partnered with Hello Park, based in Dubai, to bring its world-class interactive multimedia family entertainment centers to India.
Ramoji Film City near Hyderabad boast the world's largest film studio covering 2,000 acres of land and hosting hundreds of local and international film productions each year. The Ramoji Studio Tour attracts some 1.5 million visitors a year to visit famous movie sets and attractions.
Ramoji announced a co-investment with the Telangana Government to develop a Night Safari and Global Tourism Village.
Future opportunities: entertainment retail centers
According to a 2024 study by JLL, indoor amusement centers are expected to expand significantly as shopping malls target entertainment as major anchor tenants, driving foot traffic and brand experience.
JLL estimated there was 660,000 sqm of operational indoor amusement center space across Tier 1,2 and 3 cities. JLL forecasts the addition of 350,000 to 420,000 square meters of indoor amusement space in hundreds of shopping centers by 2028.
“Developers are looking to differentiate their shopping centers by creating entertainment destinations both in term of environmental design as well as marquee attractions,” says Shah.
Prestige Group, developer of high-end Forum Malls, is transforming its properties into experience destinations, with up to 40% of the space dedicated to entertainment and dining. Prestige Group is rapidly expanding its shopping mall portfolio with entertainment being a key differentiator.
Reliance Industries is adding more entertainment experiences to its 36 shopping malls to create “Happy Day Out” experiences. Reliance Entertainment is a large media and entertainment producer and distributor seeking to enter the location-based entertainment space.
In addition, the Reliance subsidiary RISE Worldwide has entered into a joint venture agreement with BLAST to promote esports competitions in India.
Bharti Real Estates’ new Worldmark 2.0 Mall is part of a larger AEROCITY Complex in New Delhi. The Mall will feature large indoor entertainment zones and seek international IP brand partnerships.
Adani has several large-scale airport-city developments (Mumbai, Ahmedabad, Lucknow, and Guwahati) that are expected to incorporate city-side developments, including theme parks, hotels, and shopping malls.
Future mega projects for India
Governments in India do not lack ambition. Several mega projects have been announced and are actively being promoted.
The Maharashtra State Government and NITI Aayong (a National Development agency) are promoting a 200-hectare mega theme park complex near the new Navi Mumbai International Airport. Land acquisition and planning are underway, and the bidding for private investment is expected to commence later this year.
The Andhra Pradesh government is partnering with CreatorLand Asia to develop Transmedia Entertainment City as an anchor for the 1,980-hectare Media City district of the Amaravati Capital District of Andhra Pradesh State.
Responsiveness of international brands and operations
International entertainment brands and attraction operators are taking notice of the vast potential of the Indian market. Smaller entertainment operators such as Dave and Busters, Kidzania, Timezone, Funlandia/Bounce, and Hello Park are already in India and expanding through franchises and joint ventures.
Large international media companies all have extensive operations in India, tailoring their media offerings and positioning their IP for the local market. International media brands are interested in major theme parks and attractions and are waiting for the right timing and opportunity.
India is a huge consumer and media market, so global entertainment and attraction businesses should take note of the next big thing.
